Why finance is still dominated by bold individuals

Israel is not only targeting Hezbollah leaders and weapons but also its finances, those who run them, and access to foreign currency, piling pressure on its supporters in Lebanon's cash-based economy

While there are plenty of instances of zombie banks around the world, Lebanon stands out as the most extreme example of deliberate negligence and procrastination in banking reform

Lebanon's cash economy and money laundering have come under increased scrutiny. The banking sector is under intense pressure to comply or face serious consequences.

A new draft law designed to help reform banking in Lebanon and address distrust in the sector is full of loopholes—handy for those who might benefit. Meanwhile, the conflicts of interest remain.

Apple has clearly succeeded in penetrating traditional banking services, forging a new future for the sector. Al Majalla explains why banks and other financial service providers should be worried.